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The West of England P&I Club has appointed Alexis Wildman as head of product, replacing Richard Turner, who will retire later this year following a structured handover period. In her new role, Wildman will report to chief underwriting officer (CUO) Bart Mertens as the club continues to develop its products to suit the changing needs…
Commercial and specialty lines insurer HDI Global has announced the appointment of Mark Mackay as global head of energy and power, effective March 1. McKay will succeed Franz Adamczyk, who is stepping down after decades of working with clients and brokers around the world to develop and expand the energy and power portfolio. With this…
In addition to its full-year 2025 results, which included underwriting revenue of $117.2 million and a combined ratio of 94.8%, Fidelis Insurance Group also announced its intention to change its name to Pelagos Insurance Capital Limited. Fidelis explained that trading under the new ticker (NYSE: PLGO) is expected to begin in May 2026, subject to…
Zurich-based catastrophe insurance data provider PERILS has provided the first insurance industry loss estimate of A$786 million for the Victorian bushfires that occurred from January 7 to 13, 2026. PERILS estimates of insurance market losses for this event are based on loss data collected from affected insurance companies. This preliminary estimate covers property and motor…
axa AXA explained that the growth was supported by the favorable impact on alternative capital and casualty prices, but was partially offset by weakness in other lines. Meanwhile, global warming potential and other revenue from the insurer’s broader property and casualty business rose 5% on a comparable basis to €58 billion, up from €56.5 billion…
Blue Marble, a company that provides insurance protection to underserved communities, has reportedly paid out the largest ever parametric insurance payout to smallholder farmers in Indonesia, with all 2,719 farmers enrolled in the program receiving payouts, with claims totaling more than IDR 2.4 billion. The recent flooding in Aceh is one of the most devastating…
Global reinsurer Munich Re’s net performance for fiscal 2025 exceeded its target, reaching 6.121 billion euros, of which reinsurance business contributed 5.204 billion euros, with property and casualty (P&C) and life and health (L&H) businesses performing strongly during the year. 2025 marked the fifth consecutive year that Munich Re’s annual profit exceeded respective guidance, exceeding…
Berkshire Hathaway Specialty Insurance (BHSI), an insurance provider of commercial property, casualty and specialty insurance, announced significant promotions to its property leadership team. Ryan Abelli and Chris Lemoine have been named co-heads of wholesale general real estate, while JP Ahlgren has been promoted to senior vice president of real estate. Greg Freeman, senior vice president…
AM Best revised its outlook to stable from negative and affirmed the credit ratings of members of Mercury Casualty Group (Mercury) based on its net ultimate losses and reinsurance recoveries following the January 2025 California wildfires. The rating agency affirmed Mercury Member’s Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating (Long-Term ICR)…
The Pensions Insurance Company (PIC), a specialist insurer of defined benefit pension schemes, has completed the £60m acquisition of Bodycote UK pension scheme, ensuring benefits for all 680 scheme members. Bodycote provides specialist heat treatment services, providing the metallurgical solutions necessary to improve the performance, reliability and service life of critical components. The company serves…